Reed Business Information will retain ownership of Variety, despite recent reports to the contrary. According to Folio:, RBI parent company Reed Elsevier confirmed the news in its 2009 earnings report. The struggling Hollywood trade was rumored to have been quietly put on the block in January.
Earlier this week, the company sold four of its trade publications to Los Angeles-based Canon Communications.
In December 2009, RBI unloaded Broadcasting & Cable, Multichannel News and TWICE.